Key Metrics 
Check Before You Invest 
10 Yrs X-Ray 
Valuation 
Analyst Note 
Qtr. Results 
Financials 
News 
About
Kaynes Technology India Ltd (KAYNES)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543664 NSE: KAYNES Electronics - Components | Small Cap | Kaynes Technology Share Price
₹3,500 -19.90 (-0.57%)
As on 11-Sep'26 16:59
Kaynes Technology India Ltd (KAYNES)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 543664 NSE: KAYNES Electronics - Components | Small Cap | Kaynes Technology Share Price
₹3,500 -19.90 (-0.57%)
As on 11-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹23,462 Cr.
Current Price
₹3,500
52-Week Low / High
₹2,996 / 7,705
TTM EPS
₹51.6
TTM Sales
₹3,899 Cr.
Book Value per Share
₹716.5
P/E Ratio
67.87
Lower than its 5-year historical median
Industry PE
49.4
Price to Book (P/B)
4.88
Lower than its 5-year historical median
Price to Sales (P/S)
6.02
Lower than its 5-year historical median
EV/EBITDA
31.27
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
9.59%
Outperforms industry median
Return on Capital Employed (ROCE)
13.38%
Outperforms industry median
Return on Assets (ROA)
6.15%
Operating Profit Margin
15.9%
Net Profit Margin
10.03%
Gross Profit Margin
16.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
11.09%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
39.15%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
24.01%
Asset Quality
Promoter Holding
53.46%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹4,736 Cr.
Equity
₹67 Cr.
Face Value
₹10
All Time Low / High
₹625.05 / 7824.95
Check Before You Invest
Quality
Very GoodValuation
FairCheck Valuation charts
Price Trend
Semi Strong
Is Kaynes Technology India Ltd a good quality company?
Kaynes Technology India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Kaynes Technology India Ltd performance compare with that of its Peers?
Revenue growth of Kaynes Technology India Ltd vs industry peers?
Kaynes Technology India Ltd revenue CAGR is 40.20%, compared to the industry median CAGR of 1.96%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Kaynes Technology India Ltd?
Promoters hold 53.46% of the Kaynes Technology India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Kaynes Technology India Ltd over the last decade?
Over the last 3 year(s), the stock has delivered a CAGR of 20.19% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Kaynes Technology India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 13.5% | 22.1% | 15.5% | 14.9% | 12.3% | 26.1% | 22.1% | 11.4% | 12.3% | 10.6% | - |
| Value Creation Index ⓘ | 0.2 | 1.0 | 0.4 | 0.3 | 0.1 | 1.3 | 0.6 | -0.2 | 0.1 | -0.1 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 278 | 369 | 353 | 360 | 393 | 671 | 1,087 | 1,274 | 1,915 | 2,128 | 2,230 |
| Sales YoY Gr. | - | 32.9% | -4.5% | 2.1% | 9% | 70.9% | 61.8% | 17.3% | 50.4% | 11.1% | - |
| Adj EPS ⓘ | 7.1 | 15.6 | 12.4 | 14.5 | 9.8 | 8.5 | 16.3 | 19.9 | 32.8 | 35.6 | 41.3 |
| YoY Gr. | - | 119.2% | -20.6% | 17% | -32.8% | -13.1% | 92.3% | 21.9% | 65% | 8.5% | - |
| BVPS (₹) ⓘ | 85.3 | 103.3 | 114.7 | 128.6 | 169.4 | 43.9 | 164.7 | 379.8 | 412.1 | 671 | 682.5 |
| Adj Net Profit ⓘ | 5.8 | 12.7 | 10.1 | 11.8 | 8 | 39.1 | 94.7 | 127 | 210 | 238 | 277 |
| Cash Flow from Ops. ⓘ | 28.3 | 9.4 | -4.5 | 33.4 | 13 | 14.7 | -52.3 | -103 | 65.1 | 247 | - |
| Debt/CF from Ops. ⓘ | 3.4 | 10.4 | -34.3 | 4.2 | 10.5 | 11.2 | -2.4 | -2.6 | 9.4 | 1.3 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 25.4% | 40.2% | 25.1% | 11.1% | ||||
| Adj EPS ⓘ | 19.6% | 29.5% | 29.7% | 8.5% | ||||
| BVPSⓘ | 25.8% | 31.7% | 59.7% | 62.8% | ||||
| Share Price | - | - | 18.1% | -51.2% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 8.8 | 16.6 | 11.4 | 11.9 | 6.5 | 22.9 | 16.3 | 7.5 | 8.3 | 6.7 | 6.1 |
| Op. Profit Mgn % ⓘ | 7.8 | 10.4 | 10.6 | 11.6 | 9.6 | 13.6 | 15.3 | 13.7 | 13.4 | 13.7 | 13 |
| Net Profit Mgn % ⓘ | 2.1 | 3.5 | 2.9 | 3.3 | 2 | 5.8 | 8.7 | 10 | 11 | 11.2 | 12.4 |
| Debt to Equity ⓘ | 1.4 | 1.2 | 1.7 | 1.4 | 1 | 0.8 | 0.1 | 0.1 | 0.2 | 0.1 | - |
| Working Cap Days ⓘ | 244 | 219 | 269 | 281 | 276 | 214 | 214 | 272 | 332 | 552 | 326 |
| Cash Conv. Cycle ⓘ | 97 | 93 | 126 | 141 | 136 | 110 | 99 | 107 | 86 | 88 | 265 |
Valuation of Kaynes Technology - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 287 | 379 | 364 | 368 | 421 | 706 | 1,126 | 1,805 | 2,722 | 3,626 |
| Operating Expenses ⓘ + | 267 | 342 | 327 | 326 | 379 | 611 | 956 | 1,548 | 2,307 | 3,049 |
| Operating Profit ⓘ | 21 | 38 | 37 | 42 | 42 | 95 | 170 | 257 | 415 | 578 |
| Operating Profit Margin (%) | 7.2% | 9.9% | 10.1% | 11.5% | 10.0% | 13.5% | 15.1% | 14.2% | 15.3% | 15.9% |
| Other Income ⓘ + | 6 | 5 | 2 | 2 | 4 | 4 | 11 | 56 | 107 | 157 |
| Interest ⓘ | 13 | 15 | 20 | 25 | 25 | 27 | 36 | 56 | 106 | 121 |
| Depreciation ⓘ | 5 | 5 | 5 | 8 | 10 | 13 | 19 | 25 | 45 | 107 |
| Profit Before Tax ⓘ | 10 | 23 | 14 | 11 | 11 | 59 | 126 | 232 | 372 | 504 |
| Tax ⓘ | 2 | 8 | 4 | 2 | 1 | 17 | 31 | 48 | 78 | 140 |
| Profit After Tax | 8 | 16 | 10 | 9 | 10 | 42 | 95 | 183 | 293 | 364 |
| PAT Margin (%) | 2.6% | 4.2% | 2.7% | 2.5% | 2.3% | 5.9% | 8.5% | 10.2% | 10.8% | 10.0% |
| Adjusted EPS (₹) | 9.1 | 19.2 | 11.9 | 11.6 | 11.5 | 9.0 | 16.4 | 28.7 | 45.9 | 56.7 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 68 | 83 | 93 | 103 | 139 | 203 | 958 | 2,486 | 2,839 | 4,747 | |
| Debt + | 91 | 88 | 148 | 122 | 125 | 161 | 134 | 302 | 871 | 841 | |
| Minority Interest | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 4 | 14 | |
| Trade Payables | 76 | 100 | 90 | 92 | 95 | 164 | 223 | 361 | 683 | 851 | |
| Others Liabilities ⓘ | 27 | 35 | 32 | 61 | 59 | 93 | 128 | 183 | 343 | 647 | |
| Total Liabilities ⓘ | 262 | 307 | 363 | 379 | 419 | 622 | 1,445 | 3,333 | 4,740 | 7,099 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 49 | 46 | 53 | 66 | 80 | 113 | 132 | 319 | 845 | 1,594 | |
| CWIP ⓘ | 0 | 1 | 2 | 12 | 13 | 8 | 29 | 105 | 391 | 511 | |
| Investments ⓘ | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 132 | 132 | 257 | |
| Inventories | 80 | 86 | 122 | 151 | 164 | 226 | 413 | 548 | 814 | 1,103 | |
| Trade Receivables | 92 | 136 | 123 | 94 | 122 | 198 | 227 | 356 | 575 | 1,528 | |
| Cash Equivalents | 8 | 8 | 32 | 12 | 14 | 22 | 486 | 1,526 | 1,056 | 799 | |
| Others Assets ⓘ | 30 | 28 | 29 | 43 | 25 | 54 | 155 | 347 | 926 | 1,308 | |
| Total Assets ⓘ | 262 | 307 | 363 | 379 | 419 | 622 | 1,445 | 3,333 | 4,740 | 7,099 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 28 | 9 | -8 | 45 | 28 | 21 | -42 | 88 | -82 | -600 |
| Cash Flow From Investing Activity ⓘ + | -9 | -1 | -41 | -10 | -24 | -45 | -494 | -1,523 | -355 | -917 |
| Cash Flow From Financing Activity ⓘ + | -22 | -8 | 49 | -35 | -1 | 27 | 554 | 1,429 | 465 | 1,580 |
| Net Cash Flow ⓘ | -2 | 0 | 0 | -0 | 2 | 4 | 19 | -7 | 28 | 62 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 11.89 | 20.9 | 11.04 | 9.57 | 8.1 | 24.53 | 16.4 | 10.64 | 11.02 | 9.59 |
| ROCE (%) | 13.49 | 22.21 | 15.82 | 14.53 | 13.74 | 26.49 | 22.16 | 14.79 | 14.67 | 13.38 |
| Asset Turnover Ratio | 1.2 | 1.35 | 1.09 | 0.99 | 1.05 | 1.36 | 1.09 | 0.76 | 0.68 | 0.62 |
| PAT to CFO Conversion(x) | 3.5 | 0.56 | -0.8 | 5 | 2.8 | 0.5 | -0.44 | 0.48 | -0.28 | -1.65 |
| Working Capital Days | ||||||||||
| Receivable Days | 106.80 | 108 | 129.70 | 107.40 | 93.50 | 82.60 | 68.80 | 58.90 | 61.80 | 104.30 |
| Inventory Days | 94.50 | 79 | 104.20 | 135.30 | 136.70 | 100.80 | 103.70 | 97.20 | 90.60 | 95.20 |
| Payable Days | 135.10 | 124.50 | 143.10 | 137.40 | 119.60 | 96.80 | 90.50 | 80.10 | 100.30 | 118 |
Top 5 Mutual Funds Holding
Last Visited Stocks
Announcements
Kaynes Technology India Ltd FAQs
The current trading price of Kaynes Technology on 11-Sep-2026 16:59 is ₹3,500.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-Sep-2026 the market cap of Kaynes Technology stood at ₹23,462.1 Cr
The latest P/E ratio of Kaynes Technology as of 10-Sep-2026 is 84.78.
The latest P/B ratio of Kaynes Technology as of 10-Sep-2026 is 5.13.
The 52-week high of Kaynes Technology is ₹7,705 and the 52-week low is ₹2,995.9.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Kaynes Technology is ₹2,230 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Kaynes Technology India Ltd is a good quality company.
The key valuation ratios of Kaynes Technology India Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Kaynes Technology India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.
About Kaynes Technology India Ltd
Kaynes Technology India was incorporated on March 28, 2008 at Mysore, Karnataka as a private limited company under the Companies Act, 1956, with the name ‘Kaynes Technology India Private Limited’ pursuant to a certificate of incorporation granted by the Registrar of the Companies, Karnataka at Bangalore (RoC). Subsequently, the name of the Company was changed to ‘Kaynes Technology India Limited’ upon conversion of the company into a public limited company pursuant to a special resolution passed by company’s Shareholders on March 24, 2022 and the fresh certificate of incorporation was issued by the RoC consequent upon change of name on conversion to public limited company on March 31, 2022.
The company is an end-to-end and IoT solutions enabled integrated electronics manufacturing player, having capabilities across the entire spectrum of electronics system design and manufacturing (ESDM) services. It has experience in providing conceptual design, process engineering, integrated manufacturing and life-cycle support for major players in the automotive, industrial, aerospace and defence, outer-space, nuclear, medical, railways, Internet of Things (IoT), Information Technology (IT) and other segments.
Business area of the company
The company is primarily engaged in design and manufacturing of advanced electronic modules and solutions catering to a wide range of industries. It collaborates with global OEMs and Tier I players across sectors to design, build, and support high-performance, high-reliability electronic solutions. Headquartered in Mysuru, its model spans the entire electronics value chain, combining embedded design, advanced manufacturing, and lifecycle support into a cohesive offering.
Solutions offered by the company
The company offers tailored and scalable services with complete ownership across the product lifecycle.
- Embedded Design and Development: Concept-to-prototype product engineering and embedded software
- Box Build and Systems Integration: End-to-end electro-mechanical integration and testing
- Build-to-Print/Build-to-Spec: Precision manufacturing aligned to customer IP and specifications
- Lifecycle Support and Services: Post-sales support, service integration, and upgrades
Key Awards, Accreditations and Recognition
- 2005-2006: State Export Excellence Award, Government of Karnataka presented by the Visvesvaraya Industrial Trade Centre.
- 2007-2008: State Export Excellence Award, Government of Karnataka presented by the Visvesvaraya Industrial Trade Centre.
- 2007: Special recognition Award “National Award - 2007 for outstanding entrepreneurship efforts” by Ministry of Micro, Small and Medium Enterprises, Government of India.
- 2013: Plaque of honour for outstanding achievements in manufacturing and corporate social responsibility by the Mysore District Parents association for empowering developmentally disabled.
- 2014: Platinum Award for being rated as the highest scoring SMEs in India by the SKOCH Group.
- 2014: SKOCH merit certificate for qualifying amongst India’s Best SMEs by the SKOCH-2014 Group.
- 2015: Award for Best Electronics Manufacturing Company at the IESA- Technovation Awards by India Electronics & Semiconductor Association.
- 2015- 2016: Award for High Growth in Electronic Hardware Exports - Tier II & III region at the STPI Export Awards 2015-2016 by Software Technology Parks of India.
- 2016: Make in India -Emerging Entrepreneur Award by India Today Group.
- 2016: Excellence Award by NCQC, Raipur Quality Circle Forum of India.
- 2017-2018: Export Excellence Award for highest exports in electronics hardware sector presented by Ministry of Commerce & Industry, Government of India.
- 2018: First Prize (MSE) in the Excellence in Manufacturing component at the Elcina defEnnovation Awards.
- 2018: Winner at the Hand Soldering Competition by IPC India.
- 2018: Award for Entrepreneur of the Year (Trendsetter-Manufacturing) by CII Connect.
- 2018: ELCINA defEnnovation Award for Excellence in Manufacturing - Components, MSME Category by Elcina.
- 2022: ELCINA defEnnovation Award for Excellence in Manufacturing - Product (large scale).
- 2025: Kaynes Technology India Limited has been honoured by Intel Corporation / Intel India with the Business Excellence Award 2025.
Major events and milestones
- 1988: Established as a manufacturing enterprise.
- 1995: Obtained ISO 9001:2000 certification for printed circuit board assemblies and electronic manufacturing services.
- 2000: Obtained approval for setting up of 100% hardware export oriented unit under the electronic hardware technology park scheme of government of India for manufacture of populated printed circuit boards.
- 2001: Commenced exporting operations.
- 2004: New unit in Himachal Pradesh for resale of printed circuits board assemblies.
- 2006: Established manufacturing facility (micro enterprise) in Uttarakhand.
- 2006: Entered into memorandum of understanding with NS-SBU Bharat Electronics Limited, Bengaluru for contract manufacturing of PCB assemblies, modules and sub-units.
- 2008: Incorporation of Company.
- 2008: Established Subsidiary, Kaynes Technology Europe GmbH, a limited liability corporation at Hunenberg, Switzerland.
- 2008: Takeover of Kaynes Technology, a Proprietorship firm of Ramesh Kunhikannan, by the Company.
- 2009: Established unit in Chennai for undertaking services related to solenoids, electromagnetic relays, inductors, transformers and electro mechanical parts.
- 2009: Expanded customer base in Europe in line of the purchase orders received.
- 2010: Received Industry Vertical Specific Quality Management System Certifications for manufacturing and servicing of populated printed circuit boards, electromechanical assemblies and transformer for electronic assemblies.
- 2010: Established a unit at Bengaluru, Karnataka, India.
- 2010: Received Industry Vertical Specific Quality Management System Certifications for manufacturing and servicing of populated printed circuit boards, electromagnetic assemblies and cable harness for electronic assemblies for aerospace application.
- 2011: Received Industry Vertical Specific Quality Management System Certifications for the custom manufacture of populated printed circuit board assemblies, electromechanical assemblies and Patient Monitoring Systems.
- 2012: Established manufacturing facility in Mysore, Karnataka, India.
- 2013: Commenced exporting of products to Australia and Malaysia.
- 2016: Established manufacturing facility in Manesar, Gurugram, Haryana, India.
- 2016: Collaboration with Qualcomm Technologies Incorporation for design and manufacturing of software tools and hardware tools for various devices.
- 2020: Impetus towards embedded system, design and IOT solutions and design skills enhancement.
- 2021: Commenced exporting of sensor electric assembly to Phoenix, Arizona.
- 2021: Growth in aerospace, defence, power electronics and expansion into consumer electronics.
- 2022: Received approval under the Production Linked Incentive Scheme for White Goods (Air Conditioner and LED Lights).
- 2023: Kaynes Technology enters into MoU with Government of Karnataka.
- 2023: Kaynes Technology India inks MoU with Government of Telangana.
- 2024: Kaynes Technology India collaborates with DigiLens.
- 2024: Kaynes Technology India incorporates wholly owned subsidiary.
- 2024: Kaynes Technology India’s wholly owned subsidiary -- Kaynes Semicon has signed a binding Technology Provision Agreement (TPA) with ISO Technology Sdn. Bhd. (ISO).
- 2024: Kaynes Technology India acquires 100% shareholding in ESSNKAY Electronics LLC.
- 2024: Kaynes Technology inaugurates electronics manufacturing facility in Hyderabad.
- 2024: Kaynes Technology India’s wholly owned subsidiary -- Kaynes Semicon has received approval from Union Cabinet to setup a semiconductor unit at Sanand, Gujarat.
- 2024: Kaynes Technology India acquires 54% stake in Sensonic GmbH, Austria.
- 2025: Kaynes Technology India acquires August Electronics Inc.
- 2025: Kaynes Technology India incorporates wholly owned subsidiary.
- 2025: Kaynes Technology India’s wholly owned subsidiary -- Kaynes Circuits India has entered into a non-binding Memorandum of Understanding (MoU) on August 4, 2025 with Government of Tamil Nadu for investment promotion and facilitation.
- 2025: Kaynes Technology India’s a wholly owned subsidiary -- Kaynes Semicon has entered into two strategic partnerships with global technology leaders - AOI Electronics Co., (Japan) and Mitsui & Co., (Japan) - to strengthen its upcoming semiconductor manufacturing operations in India.
You have 42 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
